Southern Community Bank is the largest community bank based in Winston-Salem. Last week, company officials announced the bank will be bought out by Florida-based Capital Bank Financial Corp. (NASDAQ: CBKN) for $2.875 per share. Some job losses are expected as part of the acquisition. The bank has struggled during the recession, but has had profits in the last three quarters.

For 2011, CEO Scott Bauer received total compensation of $343,000, down from $568,000 in 2009. First executive vice president Jeff T. Clark received $258,000 in 2011, while executive vice president and chief financial officer James Hastings received $203,000. Treasurer James C. Monroe Jr. was paid $180,000 and executive vice president Merle B. Andrews was paid $174,000.

Southern Community has about $1.6 billion in assets and 22 branches,

Capital’s Triad branches currently include three in Burlington, one in Mebane and one in Graham.

Amy Dominello Braun manages Web content, social media and awards-based special sections. Contact her at 336-370-2912.

Industries:

Comments

If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.